Funny compression on Premiere 6.5

Hi
I am creating a music video. I have Windows XP, Premiere 6.5 and a Edirol FA-101 sound card. I have imported a perfectly good uncompressed music file that is the only audio on the final video so only 1 track of audio is used. The audio sounds slightly compressed once it is in the timeline. When the video is mastered it still sounds compressed (I get a tinny top end). It is definitley saying uncompressed in the audio options. Can anyone suggest what might be happening?

It should be stereo. What I mean is that it are no other audio files used, all the audio from the original video has been removed. The music is sat in track 1. I imported it as a .wav file from CD using Sound forge 7. I have had this problem before with music in Premiere but have lived with it.